Grandich Client Excelsior Mining – Euro Pacific Issues Strong buy on MIN, Target price $2.60!

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February 09, 2012 08:11 AM


COVERAGE AND COMMENTARY FROM EURO PACIFIC

EXCELSIOR MINING CORP. MIN – TSX.V : $0.75 – STRONG BUY
12 MONTH TARGET PRICE : $2.60 | PROJECTED RETURN: 247%

Merrill W. McHenry, CFA, MBA, Metals & Mining Analyst

LOW COST, LOW EXECUTION & GEOLOGICAL RISK,
EMERGING COPPER PRODUCER

Last of the region’s ISL projects?

We believe Excelsior has a large and expandable copper (“Cu”) resource at the Gunnison copper Project (“Gunnison”) that is amenable to relatively low cost in situ leach recovery (“ISL”; also called “ISR”) mining. As the regional ISL model is well established this lowers execution risk, increases production visibility and we believe will lead to the development of one of the lower cost (per pound) copper mines in the world.

• Proven ISL Copper Porphyry District with significant oxidized intercepts
• Proven veteran management previously supervised numerous operations
• Perhaps the last, to date the longest, remaining ISL project in the region (4.47 billion lbs. NI 43-101 Compliant)

The Full Report on Excelsior Mining Corp. will be issued later today.

See summary here Euro_Pacific_Canada_Excelsior_09-02-2012





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